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CONSOLIDATED BALANCE SHEETS - USD ($)
Jul. 31, 2021
Jul. 31, 2020
Property and Equipment-at cost:    
Land $ 6,067,805 $ 6,067,805
Buildings held for leasing:    
Buildings, improvements and fixtures 74,547,096 73,271,398
Construction in progress 2,244,959 1,266,723
Property, Plant and Equipment, Gross 76,792,055 74,538,121
Accumulated depreciation (34,793,458) (33,007,989)
Buildings - net 41,998,597 41,530,132
Property and equipment-net 48,066,402 47,597,937
Cash and cash equivalents 1,552,389 3,260,135
Restricted cash 882,330 1,143,666
Receivables, net 2,416,769 2,219,946
Marketable securities 3,901,093 3,744,905
Prepaids and other assets 2,384,727 2,389,582
Deferred charges, net 3,739,243 2,986,648
Operating lease right-of-use assets 34,566,169 37,077,038
TOTAL ASSETS 97,509,122 100,419,857
Liabilities:    
Mortgages payable 7,518,777 8,627,965
Note payable 722,726
Accounts payable and accrued expenses 2,632,905 2,771,540
Security deposits payable 834,470 809,652
Operating lease liabilities 27,840,930 29,044,966
Deferred income taxes 4,582,000 4,741,000
Total liabilities 43,409,082 46,717,849
Shareholders' Equity:    
Common stock, par value $1 each share (shares-5,000,000 authorized; 2,178,297 issued) 2,178,297 2,178,297
Additional paid in capital 3,346,245 3,346,245
Retained earnings 49,863,350 49,465,318
Stockholders' Equity before Treasury Stock 55,387,892 54,989,860
Common stock held in treasury, at cost - 162,517 shares at July 31, 2021 and July 31, 2020 (1,287,852) (1,287,852)
Total shareholders' equity 54,100,040 53,702,008
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 97,509,122 $ 100,419,857